FirstMark has always been involved in seed rounds, but the new program represents a greater emphasis on very early stage companies, which FirstMark thinks will increasingly be necessary to bring in the huge returns that venture capitalists are accustomed to.

Companies can now be developed for a fraction of the cost than they could just a few years ago and get to market in a fraction of the time. The impact of this dynamic is that companies develop sooner and grow faster with less capital. That means that we venture capitalists have to adjust our business model and be able to invest earlier and in smaller amounts.

So, what are the companies FirstMark thinks can keep the cash rolling in?

Over the past year, FirstSteps has invested in ten startups, putting $250,000-$750,000 in to each. Many are still in stealth mode, and none have been around long enough to judge, but we've taken a quick look at each.